New shipyard owners to present plans

Vanessa Dietz/Daily Mining Gazette The CEO of the new shipyard owners, Lake Shore Systems, Inc., will talk about future company plans this week at a special meeting of the Ontonagon Downtown Development Authority.

ONTONAGON — A special meeting of the Ontonagon Downtown Development Authority to hear from new shipyard owners may not be as exciting as expected.

Lake Shore Systems, Inc. CEO Jessica Frost will present company plans in Ontonagon at 5 p.m. Thursday at the downtown Gogebic Ontonagon Community Action Agency via the Spar Street entrance, according to a DDA press release clarifying the location.

“Frost’s presentation will include an overview of the company and its plans and expectations for 2017, including their current operations in Ontonagon, and future plans relating to employment and the building and grounds,” DDA President Dan Sullivan said, adding the session will be a “get acquainted” session.

While DDA members were encouraged by Frost’s prompt response to their invitation, Sullivan says he doesn’t expect Frost to make any major announcements at this time.

Lake Shore Systems, Inc. designs and manufactures defense and mining equipment. The company was recently acquired by affiliates of the private equity firm J. F. Lehman Company from the Oldenburg Group, Inc., which had owned it since 1988. The former shipyard facility is located at the end of River Street on the shore of Lake Superior.

After an approximately 30-minute presentation, Frost will answer questions from DDA members, invited guests, and the general public.

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